@article{1453892,
      recid = {1453892},
      author = {Nicholas, Howard,},
      title = {Explorations in Marx's theory of price -- Why Marx is  still relevant for understanding the modern economy.,  Volume I,: Money and money prices /},
      pages = {1 online resource (xv, 317 pages) :},
      abstract = {This book is the first volume in a three-volume series  that takes an in-depth look at the relevance of Marx's  economics for understanding the modern economy. The focus  of this volume is the money prices of commodities. In light  of the failure of central banks to stimulate inflation  through printing of money, it is now accepted that there  are problems with the mainstream approach to the  explanation of prices. Howard Nicholas underlines the  shortcomings of this and other approaches to the  explanation of prices, particularly their concepts of the  value of the commodity and money. He argues the problems  with all other approaches are manifest in their inability  to explain the changes in the relative prices of  commodities, taking place in the context of changes in the  aggregate money price level as well as independently. He  contends that of paramount importance in Marx's explanation  is that prices are set by producers prior to putting their  commodities into the process of circulation, undermining  the notion they are determined by the supply of and demand  for the commodities in the process of exchange. Marx's  approach to the explanation of prices is also contrasted  with those of Neoclassicals, Post-Keynesians and Sraffa,  with a view to highlighting the shortcomings in these  approaches as bases for their understanding and  explanations of money and prices. This book will be of  interest to academics and students of price theory, money  and finance, political economy, and the history of economic  thought. Howard Nicholas retired in 2020 as associate  professor in economics at the International Institute of  Social Studies, Erasmus University of Rotterdam, The  Netherlands. He has published in the areas of inflation,  development theory, financial markets, the global economy,  and the macro dynamics of a number of countries. He is the  author of Marx's Theory of Price and its Modern Rivals  (Palgrave Macmillan).},
      url = {http://library.usi.edu/record/1453892},
      doi = {https://doi.org/10.1057/978-1-137-56564-8},
}